Minnesota's Budget: $2.4 Billion Surplus with Looming Deficit Concerns
Minnesota is projected to have a budget surplus of $2.4 billion, according to a report from the state finance agency. While the near-term economic outlook appears stable, concerns have been raised about a significant structural imbalance in the budget for the next fiscal year. Higher estimates in health and human services and education are identified as the main drivers of state expenses. Lawmakers will need to decide how to allocate the surplus, with some funds going towards the rainy day fund and the rest up for debate. Democrats are considering a bonding bill, while Republicans are focused on tax relief for taxpayers.